Living Trust - $99

Yes. The property that you transfer into your living trust is treated as if you still own it in your own name. Additionally, in most cases, after your death, all property you owned (including assets held in your living trust) is subject to any debts you may owe.

Yes. The assets you transfer into your living trust can be transferred back to you or to someone else while you are alive. Once you transfer property into the trust, the trust is the owner, not you. However, since you will likely serve as the initial trustee, you can freely transfer property into and out of the trust.

A will and any associated documents filed in a probate matter, including an inventory of assets, become a matter of public record. A trust can be handled without court supervision or approval, so personal information remains private. When you have a living trust, you avoid probate, which in turn means that nothing becomes a matter of public record.

A living trust, or inter vivos trust, is created by the transfer of property into trust during one’s lifetime. Generally, the owner of the property (also known as the settlor) serves as the initial trustee and is also the beneficiary of the trust during his or her lifetime. Because the settlor typically serves as the initial trustee, he/she has control over the property that is held by the trust until death. After the settlor dies, the trust assets are then transferred to the people designated by the settlor in the trust document.

Yes. We strongly urge you to have both a will and a living trust. A living trust is not a complete substitute for a will. It only covers those assets transferred into trust during your lifetime. A pour-over provision in a will serves to transfer assets left outside the trust into the trust at death. Also, if the you have minor children you will likely want a will, which will allow you to name a guardian to care for the children in the event of your death.